Willis Wesonga

Eldoret, Kenya

30% repaid

Entrepreneur

Name

Willis Wesonga

Member since

August 2013

On-time repayments

31 installments  •  19%

About Me

I am Emmanuel Willis Wesonga,former STUDENT OF Law awaiting graduation later on in the year.I come from a family of five siblings-three boys and two girls.The first three of us are done with tertiary school training and our younger ones are in primary and secondary school.We are a complete family both parents being alive.As above mentioned I have been in Law school undertaking a degree in Law.I live in Eldoret in the Annex estate just adjacent to the School of Law.Life in college especially after the second semester became hard since my mother was a primary school teacher and my father is a retrenched company accountant back in late 2008.I therefore had to look for an alternate source of funding for my tuition fee and also some little sums for upkeep.SInce my business picked up I have ventured into re investing into it because it proved to be so helpful when I needed it the most.I have purchased more computers and rented a bigger place for my business.I have also ventured into more complex undertakings in the business that require so much mental uptake heavy financial invetments for the best results.

My Business

I run cyber cafe in the outskirts of Eldoret town on the Eldoret- Malaba highway.This is a personal business which goes by the name of Lennox Computers. I offer internet services,photocopy services,printing both large scale and individual,we also offer lamination and binding services to our customers and we also scan documents.Since the centre we are located in is just coming up we can say that there is a demand of the services we offer because there has not been any business around in such a venture as most people had to go all the way to Eldoret town for the services.In terms of customers,our clientele has been building up steadily through referals and take up by institutions.The challenges we face are frequent power outages and late payments by our clients especially the institutional ones.In a month,the shop makes an average of 42,700/= which cover for the buying of internet [email protected] kshs.4,800, rent @7000,printing papers at kshs.1200.we therefore have a profit of Kenya shillings15,000 more on our investments every month on average.It is our intention that the business repays the loan in its running because we intend to buy a multiprinting printer which prints even magazines in large scale.We are partnering with institutions to be their main contractors in media related activities.

Loan Proposal

I will add up to my existing savings in order to increase my accessory sales in the cyber cafe.I have been lacking a proper printer for the bulky work that has been accruing as the uptake of internet services and printing has been on the rise. I also need to buy some printing papers and also do some repairs on some of my machines.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$49.87

Date disbursed

Nov 29, 2013

Repayment status

Late

Projected term

31 months

Cost to entrepreneur

Lender interest: $49.87 at 3.00% annual rate over 31 months = $3.93

Service fee: $4.80

Lenders

G

GCAsmus

Minneapolis, United States

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